Eviction After Foreclosure: Further Developments from the Courts
A foreclosure sale purchaser attempting to evict a tenant on the property can encounter pitfalls, as made clear in a series of court cases in recent…
A Trustee’s Sale Says Nothing About a Property’s “Fair Market Value”
Under California’s Revenue and Taxation Code, the purchase price of real property usually creates a rebuttable presumption regarding the property’s “fair market value.” However, for that…
How a Junior Lien Can Survive Judicial Foreclosure
This post was primarily authored by Patton Sullivan Brodehl attorney Zachary Young. Oscar Wilde is quoted for saying—“To expect the unexpected shows a thoroughly modern intellect.”…
Cotenant Owner vs. Junior Creditor — Battle for Sale Proceeds from Senior Creditor Foreclosure
After a foreclosure sale by a senior creditor, California’s Civil Code section 2924k governs how the sale proceeds are applied in the following order of priority:…
The Wrong Way for a Trustee to Interplead Foreclosure Sale Proceeds
Like most jurisdictions, California allows for “interpleader” actions, where a party holding funds that it has no interest in can deposit the funds with the court…
Rescinding a Foreclosure Sale (or Any Other Real Estate Deal) — Act Quickly, or Lose the Remedy
In a prior post, Respect the Remedy of Rescission in Real Estate Disputes, I highlighted the often under-appreciated remedy of rescission. With rescission, both parties are…
Perils of the Full Credit Bid
At a nonjudicial foreclosure sale (also known as a trustee’s sale) a lender is entitled to make a “credit bid” — i.e., bidding all or portions…